For resident individuals (i.e. Singapore citizens, Permanent Residents) who wish to incorporate a company in Singapore, we can offer you quick company incorporation service (within one working day upon payment of our invoice). This depends on whether all directors and shareholders are available to sign the incorporation documents in our office.
If you are a foreign incorporated entity looking to set up a Singapore company, we can advise you on the various types of business entities that you can choose from, such as:
- Private limited company
- Singapore subsidiary company
- Singapore branch
- Representative Office
We shall explain to you the advantages and disadvantages for each type of entity to help you decide which is best suited to you based on your business needs.
If you are a foreign individual who wish to set business in Singapore, we strongly recommend the setting up of a Private limited company. It is by far the most common business vehicle used by foreigners to operate their business in Singapore, as a company is legally recognised as separate from its directors and shareholders, hence offering adequate protection from losses or liabilities arising from the business.
Corporate Secretarial Services
The Company Secretary is an officer of the company, primarily responsible for the company’s corporate compliance and upholding of corporate governance. All Singapore companies are required by law to appoint a Company Secretary. This position cannot be vacated at any time for more than six months. A sole director of a company is not allowed under law to act as Secretary. The Company Secretary must have sound knowledge of the corporate regulations and company law in Singapore.
As part of our incorporation package, we shall provide your company with our Company Secretary for the first year. This service is renewable on an annual or bi-annual retainer basis.
All Singapore companies are required to have a registered address. This address does not need to be the same as the company’s business address. All government mails/registered articles addressed to the company shall be sent to its registered address.
All Singapore companies are required by law to have a minimum of one locally resident director. A locally resident director can be either one of the following:
- Singapore citizen
- Singapore permanent resident
If you are a foreigner who wish to set up company here and do not have a resident director, we can provide you with our Nominee Director Service to fulfil the minimum requirement of one locally resident director. This service shall be renewable on an annual basis with a refundable security deposit required.
As part of changes made to the role as a corporate services provider, we are now obliged to carry out due diligence checks to identify the ultimate beneficial owner of a company. Nevertheless we understand that some clients have valid reasons to use a Nominee Shareholder. As long as we are sufficiently satisfied with your reasons for use of a Nominee Shareholder, we shall be pleased to provide you with our Nominee Shareholder Service. The shares of your company will be held in the name of the Nominee Shareholder and will be transferred back to you at your request.
If you wish to de-register your company, we will assist you with the process and make sure that the company is free of all existing liabilities and statutory obligations before an application can be made to the Accounting and Corporate Regulatory Authority ("ACRA") to strike off your Company.
Filing of Annual Returns
As part of our corporate secretarial retainer service, we assist our clients with the filing of their company’s Annual Returns with the Accounting and Corporate Regulatory Authority (ACRA). We will remind you in advance to have your annual financial report ready and approved at the Annual General Meeting ("AGM") under the statutory deadline.
As part of Singapore’s effort to combat terrorism financing as well as money laundering activities, the Accounting and Corporate Regulatory Authority (ACRA) had introduced and implemented new regulations and enforcement measures over the last 2 years. Accordingly, our role as Company Secretary / Service provider has been altered significantly. As a strong advocate of compliance, we emphasis on the proper conduct of business affairs with all our customers, for both new and existing ones. This ensures that your company's statutory matters are always handled in a compliant manner required under law.
Accountancy Service / Goods and Services Tax
We have a specialised team to provide you with bookkeeping, accounting and payroll services. With close to 20 years’ experience in this field, we served a wide variety of clients from different backgrounds ranging from shipping, child care centres, general import and export traders and investment firms.
In addition to bookkeeping, we provide advice and assistance for registration of GST (Goods and Services Tax). Following successful GST registration, we shall assist you with the computation and submission of quarterly GST returns to the Inland Revenue Authority of Singapore.
All Singapore companies are required to submit their income tax returns together with their financial report to the Inland Revenue Authority of Singapore (“IRAS”) by the 30th of November in the preceding year of the financial year end. Our tax experts can help you with both your corporate and personal income tax planning.
Financial Reporting Services
All Singapore companies are required to have their yearly financial reports prepared in accordance with the SFRS (Singapore Financial Reporting Standards). We have a dedicated team to compile and prepare your financial reports for submission to both ACRA and IRAS.
Exempt Private Companies* with annual revenue of less than S$5 million are not required to have their accounts audited. While there is no mandatory requirement for qualifying Singapore companies to have their accounts audited, we understand the need for some of our clients to have their accounts audited. We have affiliated audit firms to provide you with auditing service.
* An Exempt Private Company (EPC) is a private company which has at most 20 shareholders. No corporation holds (directly or indirectly) any beneficial interest in the EPC's shares.
With effect from 1st July 2015, the government amended the requirement for audit of a company’s accounts from the previous threshold of S$5 million annual revenue to S$10 million revenue.
We have affiliate law firms, solicitors and notary public if you require their expertise.
We have expert consultants who can assist you with immigration matters, such as Employment Pass application & renewal, Letter of Consent, Singapore PR and citizenship application etc.
Virtual Office Services
If you require the use of virtual office space and services, we have connections with the leading service providers in Singapore who can offer you a very attractive package for their products and services.